Social security tax is capped at some maximum amount

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Reference no: EM134033186

Question

The level of individual income subject to the Social Security tax is capped at some maximum amount.

1. What arguments and policy criteria support raising this cap and/or not having a cap?

2. How could it be more equitable to meet anticipated future demand for Social Security by reducing the level of benefits?

3. What are the pros and cons of considering a private or public good?

Reference no: EM134033186

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